Advices to New trader Friends

Beginner Questions
1
  1. Forex trading is not the place for quick money making place its same as other profession where one gives proper time to learn and implement it .
  2. Don’t hop the strategy . Lets say i am following moving average cross over please learn more about it and try to fine tune it with some live trading on strategy .
  3. Don’t over trade Initially try to minimise as much one can and attend lots of webinar and learn about candle charts and some technical tools Indicators like MACD, stochastic .
  4. Keep trading simple don’t complicate it with so many indicators
  5. Finance your trading amount adequately like 300$ + Initially .
  6. Manage Risk to Reward Ratio with 1: 2 ( 1% loss vs 2-3% gain of total invested capital )
  7. Always plan entry and exit points when entering into any trades.

Thanks for your time

Happy Investing and Trading

3 Likes
2

welcome my new friends in this forum , i think you have chosen the right place , from all its the foremost place to acquire more knowledge by learning. keep going.

3

yes , agree with you , forex is not a place from where you can bring good result with no learning. its a place where you have to pass a long time with great patience.

1 Like
4

you said very well that dont hope for strategy , i have seen the result of trading strategy its all about short time , i have never found at any strategy which work for a long time.

5

all the point you have mentioned is really knowledgeable and good , from all i like most point 4. actually using so many indicator always causes a great risk and losses. we have to avoid it.

6

Yes, I think max 1-2 days one can trade in trend as far as retailer are concern and 1-2 good trades will suffice returns if your portfolio is well capitalised .

7

I think as a retailer we need to trade less and try to learn as soon as possible and try to learn price pattern and rest i think secondary .

8

I would very much advise novice traders to work with a demo broker account. This is very important for the trader’s performance.

9

learning is really important but besides this its more appropriate to ensure regular practice , otherwise any level of learning can be useless.

10

its a good point you have mentioned , even though traders think only learning and good knowledge can bring good result from here , but in practical practice needed highly.

11

I would also like to remind newcomers that it is very important to pay attention to training. I myself worked for about a few months with a demo account broker Amarkets.

12

Thanks for the post. Always nice to be reminded of these.

13

its s very friendly community from all we have in online , so newcomers take this place as best . so many newcomers in there and all are satisfied.

14

new forex trader minimum should pass 3 to 5 months in demo trading , otherwise it could be a great risk when trading in a real account.

15

for newcomers same suggestion , trade in a practice account , it can be demo or live , and finish the pre school level.

16

This is true. Forex trading requires consistency and patience. Always make a plan before placing a trade.

17

plan is most important but despite of having good trading plan , , all can be useless if there is no most powerful analyzing trade knowledge.

18

Totally agree. Unlike how it’s perceived, its rules are in tandem with other businesses. Takes time, willingness and patience to learn and eventually succeed.

19

Stick to your trading plan. ALWAYS.

20

Never follow people’s advice without doing your own research. Your own research is always more valuable. :boom: :100: :top:

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